Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Fenix Resources (FEX AU): Pullback With Iron Ore Prices And Attractive Entry Point

Champion Iron Ore (CIA AU): Fairly Valued Despite Operational Improvements

Curator's Cut: Powering Down CATL, Iron Ore Plays & Japan Consumer Consolidation

Fenix Resources (FEX AU) Q1 FY26 Report: Multibagger In The Making

Fenix Resources (FEX AU): Exciting Value-Adding Catalyst Can Triple Production Again

Iron Ore At 105 USD/Ton: Sweet Spot for Fenix Resources (FEX AU)

Iron Ore At 106 USD/Ton: Simandou Uncertainties To Risk Supply, Fenix, The Beneficiary

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/fenix-resources-ltd" target="_blank" data-smartkarma-citation="entities:7405:1" rel="noopener">Fenix Resources (FEX AU)</a> has now rallied 110% ytd. Despite its recent rally, it still trades at 6.3x PE and 2.6x EV-EBITDA. </li>
<li>The company churned out 43.9 mn AUD (176 mn annualized ~2.1x OCF) of operating cash flow in Q1 FY26, even though its third mine was still not fully ramped up.  </li>
<li>We see quarterly cashflows in the vicinity of 55-58 mn AUD (220-230 mn AUD annually or 1.6x OCF) with its third mine Beebyn W11 fully ramped up. </li>
</ul>



Fenix Resources (FEX AU) has now rallied 110% ytd. Despite its recent rally, it still trades at 6.3x PE and 2.6x EV-EBITDA. 
The company churned out 43.9 mn AUD (176 mn annualized ~2.1x OCF) of operating cash flow in Q1 FY26, even though its third mine was still not fully ramped up.  
We see quarterly cashflows in the vicinity of 55-58 mn AUD (220-230 mn AUD annually or 1.6x OCF) with its third mine Beebyn W11 fully ramped up. 


Fenix Resources (FEX AU): Still A Double At Least Despite >100% Rally